Top cryptocurrency traders are very bullish on Ethereum (ETH) rivals.
“God’s candle is loading,” an anonymous analyst known as Bluntz tells his 300,000 followers on social media platform X about layer-1 blockchain project Near Protocol (NEAR).
“The USD pair has retested a big breakout and the BTC pair is about to break a big downtrend. Next to memes, alt L1 is a play. (I think) these are the two most striking areas I can see.”
NEAR is trading at $6.70 at the time of this writing. The 24th-largest cryptocurrency asset by market capitalization is up nearly 9.5% in the last 24 hours and more than 22% in the past week.
Bluntz is also bullish on the altcoin sector as a whole.
“Alt is holding up very well and I think a lot of people are going to get a big hit this week as soon as BTC catches the bid. I also think this is imminent.”
Earlier this week, an analyst predicted that Dogecoin (DOGE)’s correction would end soon.
Bluntz shared a chart that suggests DOGE could surge above $1 before the five-wave rally ends.
“Currently, four DOGE wave looks have been completed here.
(DOGE) has been in a bullish sideways correction for two weeks now and many have become bored and have moved on to chase the next bright spot.
In fact, the DOGE parabola has just begun and, in my opinion, there is no profit to be made until at least $1.”
Bluntz practices Elliott Wave Theory, which states that bullish assets tend to witness a five-wave surge before witnessing an ABC correction. According to the theory, waves 1, 3, and 5 are an upward surge, and waves 2 and 4 are a correction period.
DOGE is trading around $0.40 at the time of this writing. The 7th largest cryptocurrency asset by market capitalization rose nearly 4.5% over the past day.
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